Archive
Digital Banking Reaches New Level of Maturity in APAC
In Asia-Pacific (APAC), the COVID-19 pandemic has brought the digital banking industry to a new level of maturity with penetration now approaching 90% across the region. This surge was largely driven by emerging markets, where adoption soared 33% points between
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4 Priorities for Banks to Secure Digital and Mobile Channels
During the pandemic, the number of data breaches has increased drastically: cyberattacks targeting banks have even grown by 238 percent. This fraud surge goes hand in hand with the growing use of the mobile and digital banking channels. While this
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UOB and ADDX Partner for S$50 Million Sustainability-Linked Digital Bond
UOB and digital securities exchange ADDX have concluded the digitisation and digital custody of the inaugural sustainability-linked bond recently launched by Sembcorp Industries (Sembcorp). The bank was appointed as a joint lead manager for the S$675 million sustainability-linked bond issued
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Funding Societies Raises US$18 Million in Debt Financing
Funding Societies, Southeast Asian SME digital financing platform, announced that it has raised US$18 million in debt financing led by a trio syndicate of financial institutions including Helicap Investments, the newly launched Social Impact Debt Fund, and an unnamed Japanese
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4 Must-Haves to Build an Effective Online Fraud Prevention and Detection Strategy
Financial crime has increased in recent years and is constantly evolving. With total combined fraud losses reaching a record high of $56 billion in 2020, financial organisations around the world are facing a growing challenge from fraudsters who are becoming
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KPMG Pledges US$1.5 Billion Over the Next Three Years to Focus On ESG Efforts
KPMG plans to spend more than US$1.5 billion over the next three years specifically to focus on the Environmental, Social and Governance (ESG) strategy as outlined in “KPMG: Our Impact Plan”. The plan sets out a range of targets, including
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Ribbit Capital Snaps up a Minority Stake in Indonesian Digital Bank Jago
Venture capital firm Ribbit Capital has snapped up a minority stake in Bank Jago, a Gojek-backed digital bank. Ribbit Capital had previously invested in Tinkoff, Revolut, BharatPe, Robinhood, Affirm, Nubank, Coinbase and Credit Karma. Prior to this, ride hailing super app
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MAS Says BNPL Does Not Pose Significant Risk at This Stage
Buy Now, Pay Later (BNPL) schemes do not pose a “significant risk” to household indebtedness as they are not yet widely used relative to other payment methods, according to a Parliamentary reply yesterday. The popularity of the BNPL scheme has
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Swiss Digital Asset Infrastructure Provider METACO Sets up Singapore Office
Swiss-based digital asset infrastructure provider METACO announced the launch of its Asia Pacific headquarters in Singapore, with a strong team managed by newly appointed Managing Director APAC, Patrick Enjalbal. Patrick was the former Director at Singapore-based financial technology consultancy, Luxoft,
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UnionBank of the Philippines’s Venture Arm UBX Sets up Singapore HQ
UBX, the fintech venture fund of the UnionBank of the Philippines, announced that it has expanded its footprint by setting up a new Singapore headquarters. The new headquarters aims to serve as a bridge for startups looking to enter the
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